34 Pilton Place, Walworth, London

Description

Vacant long leasehold self-contained second floor flat with a reception room, two bedrooms, kitchen and bathroom. GIA approximately 54.8 sq m (590 sq ft).

Accommodation

Reception Room, Two Bedrooms, Kitchen, Bathroom

Location

The property is situated off Pilton Place. The shops and amenities of Walworth Road are to the west. Elephant & Castle rail and underground station (Bakerloo & Northern lines) is approximately 0.6 miles to the north. The A2 and Nursery Row Park are to the east.

Tenure / Property Information

Investment Analysis

Recent same-street sales range from £235,000 to £421,000, with the two most recent supplied sales at £235,000 and £260,000. The £421,000 sale is materially higher and no size, floor, condition or specification details are supplied to confirm comparability. A cautious evidence-based scenario range of £235,000–£260,000 is used, with a midpoint base GDV of £247,500. The guide represents a substantial discount to these sales, but condition, service charge, lease details beyond the new term and purchaser costs are not evidenced.

Investment Snapshot

Strategy Recommendation

Potential value-led purchase or resale opportunity at the guide, subject to confirming condition, lease terms, service charges, legal title and all auction-related costs. Do not underwrite as a BTL without independent rent evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any minor works only if identified during viewing or legal review; no numeric works allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £137,000 guide as the analysis purchase figure and no evidenced works or buyer charges, base total cost is £137,000. At the midpoint GDV of £247,500, 75% refinance is £185,625, implying an indicative £48,625 surplus over this simplified cost basis. This is not a complete BRRR model because finance, tax, acquisition charges, service charge and works are unknown.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The flat is vacant, so there is no evidenced passing rent. Buyer premium, administration charges, service charge, legal costs and finance costs are also unknown.

Flip Analysis

The midpoint base GDV is £247,500 against the £137,000 guide, giving £110,500 before selling costs, finance, tax, buyer charges and any works. A formal flip surplus is not calculated because no supported selling-cost allowance or complete project-cost evidence is supplied. The two recent same-street sales support the indicative range, but comparability is incomplete.

Investor Risks & Due Diligence

• Comparable sale prices vary materially and detailed comparability is not supplied.

• No rental evidence is available, so BTL income and yield cannot be verified.

• Buyer premium, administration charges and other possible seller or third-party fees are unknown.

• Condition and any required works are not evidenced.

• Service charge, council tax, EPC, heating and other running-cost information are missing.

• Leasehold legal, title and management information should be verified despite the stated new 990-year lease and peppercorn ground rent.

Recommendation

Potential value-led purchase or resale opportunity at the guide, subject to confirming condition, lease terms, service charges, legal title and all auction-related costs. Do not underwrite as a BTL without independent rent evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, size, vacancy, guide and several same-street completed sales are supplied. However, comparable specifications, condition, rent, service charges, EPC, buyer costs and other project costs are missing.